legal situation of property/businesses of foreigners with irregular migratory status

keepcoming

keepcoming

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May 25, 2011
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Question, and maybe the mods will decide it needs its own thread.. But if your illegal here in the DR and own property, business, etc..is what you own really yours? If your not legal, how legal are your assets? I know there are some out there that will say "nothing is yours in another country, etc.." But based on the question, is what you own yours if you are not "legal" in the DR.
 
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dv8

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Sep 27, 2006
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it's an interesting question.

i put it to own thread and will move to legal forum for the attention of sr guzman.
 
keepcoming

keepcoming

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Thanks dv8. Yes, will be interesting to see what Sr. Guzman has to say.
 
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Kipling333

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Jan 12, 2010
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There are hundreds of non Dominican families living in Casa de Campo, and in the various Punta Cana estates who own properties and cars and who have no residency card . They have been buying and selling assets without problems for years and on saturday a friend of mine bought an apartment using a most experienced lawyer and he has no residency and I doubt that he ever will . I doubt if the DR is going to nationalise your assets .
 
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Expat13

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Kipling333 said:
There are hundreds of non Dominican families living in Casa de Campo, and in the various Punta Cana estates who own properties and cars and who have no residency card . They have been buying and selling assets without problems for years and on saturday a friend of mine bought an apartment using a most experienced lawyer and he has no residency and I doubt that he ever will . I doubt if the DR is going to nationalise your assets .
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After years of living here and seeing laws change on a whim with no grandfather clauses. They gringo roundup has scared many snowbirds from returning. I would not leave anything to chance especially with the new ambition to make sure everyone is legal. In times of crisis the unimaginable become the reality.
 
cobraboy

cobraboy

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Residency is not required to own property or a business.
 
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rubio_higuey

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If you are so scared, just put property in Corporation's name, and pay your assets taxes on Corporation and you are all set.
 
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sanpedrogringo

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Expat13 said:
After years of living here and seeing laws change on a whim with no grandfather clauses. They gringo roundup has scared many snowbirds from returning. I would not leave anything to chance especially with the new ambition to make sure everyone is legal. In times of crisis the unimaginable become the reality.
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Times of crisis?
 
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joe

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sanpedrogringo said:
Times of crisis?
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Yes, when the prophesied falling of the sky by certain Dr1 members with frontotempora dementia, comes to fruition.

Beat the rush,sell everything, clean out the bank accounts and get the hell outa Dodge.
 
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lifeisgreat

lifeisgreat

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As a foreigner with no legal status you are allowed to own property with the same rights as legal resident and own a business 
But can't work in said business (which would be hard)..
 
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Derfish

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lifeisgreat said:
As a foreigner with no legal status you are allowed to own property with the same rights as legal resident and own a business 
But can't work in said business (which would be hard)..
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Why would that be hard? I guess if it is a restaurant or similar, but if it is a bigger business that you own stock in even a majprity there is no reason to go to work everyday and do the work, is there?
 
lifeisgreat

lifeisgreat

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True Derfish...but 98% open restaurant and god knows we just need another pizza place ;)
 
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Derfish

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lifeisgreat said:
True Derfish...but 98% open restaurant and god knows we just need another pizza place ;)
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Or chicken joint.Or bar. When I think of owning a business I think of paperwork businesses, not frying pan businesses. I have run restaurants a couple of times over the years, but don't think of that as a business.
 
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joe

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sanpedrogringo said:
Some people think publishing their daily diary entries are a business, BUT, that's their business.
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Unfortunately those people make there business every ones business, not that there's anyone on this site that would consider doing that.
 
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Kipling333

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rubio_higuey said:
If you are so scared, just put property in Corporation's name, and pay your assets taxes on Corporation and you are all set.
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The rules in Impuestos Internos have changed recently in relation to companies . Before, many foreigners purchased assets in the name of a company and reported to Impuestos Internos every year ,normally through an accountant . Now they must report online every month and if at all late they receive a heavy fine . Many accountants are not set up to do this large amount of extra work and it seems that Impuestos Internos are not either .
 
drstock

drstock

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Kipling333 said:
The rules in Impuestos Internos have changed recently in relation to companies . Before, many foreigners purchased assets in the name of a company and reported to Impuestos Internos every year ,normally through an accountant . Now they must report online every month and if at all late they receive a heavy fine . Many accountants are not set up to do this large amount of extra work and it seems that Impuestos Internos are not either .
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That's both funny (Impuestos Internos not being set up to handle it) and worrying. I have a property owned by my company and have heard nothing about the new rules - and my tax affairs are handled by lawyers who are very well known on this site.
 
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Kipling333

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Yes drstock , you are in the same boat as many many other people. My accountants are going quite crazy as I am as I have been served already with two notices saying that I have 5 days to do my monthly return although absolutely nothing as happened in those months. I was talking to the manager in the bank who says that they are also having to churn out a quite useless amount of extra paper . Most countries with advanced tax systems normally only require a company return every year or at the most every quarter.
 
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